Law of Supply: The Producer Side
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What students do
- Read a supply schedule and supply curve for Bella's Pizza Kitchen to predict quantity supplied at four different prices
- Distinguish a movement along the supply curve from the two reasons behind it, the profit motive and rising marginal cost
- Explain why the 800th pizza costs more to make than the 200th, using the concept of marginal cost
- Apply the ceteris paribus assumption to determine what a price change does and does not do to the supply curve
What it covers
- The two reasons producers offer more at a higher price, the profit motive and rising marginal cost
- How a supply schedule and a supply curve show the exact same information as a table and a graph
- The difference between supply, the whole curve, and quantity supplied, one point on it
Learning targets
- State the LAW OF SUPPLY (price up = quantity supplied up, all else equal) and read an upward-sloping supply curve and the supply schedule behind it
- Distinguish a MOVEMENT ALONG the supply curve (caused only by a price change) from the two reasons price drives quantity supplied - the PROFIT MOTIVE and RISING PRODUCTION COSTS
- Use a real supply schedule and supply curve to predict how quantity supplied changes when price changes, and explain WHY a higher price must cover the rising cost of producing more
From one teacher to another
Students who found the buyer side of demand clear can slide straight into this one, the deliberate producer-side twin I built to run parallel to it. The activity keeps circling back to the two reasons a higher price pulls out more supply, the profit motive and rising marginal cost, because that's where classes actually get stuck. I like that a kid who's never run a business still walks away knowing why the 800th pizza costs more to make than the 200th.
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